Core Contribution definition

Core Contribution means the nonelective employer contributions made pursuant to Section 4.1(d).”

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Core Contribution means the amounts contributed by the Company pursuant to Section 3.5 (including those amounts contributed prior to April 1, 2013 and designated as “Stock Ownership Contributions”).

Core Contribution means the annual employer contribution provided for under Section 4.2 of the Chittenden Plan equal to a percentage of the eligible employee’s earnings up to the Social Security Wage Base for the applicable year plus a percentage of the eligible employee’s earnings in excess of the Social Security Wage base for such year based on the eligible employee’s years of benefit service as of the end of the applicable year, all as defined and more fully described in said Section 4.2;

Examples of Core Contribution in a sentence

All Employees who work at least 1,000 hours in the year (including Per Diems) are eligible for matching and who are employed at the end of the calendar year will be eligible for the Core Contribution at the end of each calendar year.
The Minimum Core Contribution will be pro-rated for part-time and per diem employees who meet the program requirements.
The Core Contribution shall be made in the sum assessed and agreed by the SLP Board and shall be payable at the beginning of each financial year on receipt of an invoice for such sum.
Core Contribution: Eligible full-time employees receive the greater of 3% of Retirement Program Pay or the Minimum Core Contribution.
Wage Increase Evening Night Week- End Core Contri-bution Signing Bonus Pro-rata for <40 hr employees Retro to 1/1/19 3.5% Ratification $250 Mar-2020 2.5% $3.00 $4.00 $3.00 3% Mar-2021 2.5% Mar-2022 2.5% Hourly rate increases will apply uniformly to all employees without regard to an individual’s current hourly rate unless the amount would cause the rate to exceed the range maximum.
The Employer will make a Core Contribution of 1.5% of pay, the first such contribution occurring in the first quarter of 2020.
In determining the benefits payable under this Section 5.3(b), the benefit offset amount under paragraph (d) of Appendix A shall be the value of the Employee’s vested Core Contribution Account under the Schlage Lock Company LLC Employee Savings Plan and vested Supplemental Core Contribution Account under the Schlage Lock Company LLC Supplemental Employee Savings Plan as of the date of the Employee’s Separation from Service.
In determining the benefits payable under this Section 5.3(b), the benefit offset amount under paragraph (d) of Appendix A shall be the value of (i) the Employee’s vested Core Contribution Account under the Schlage Lock Company LLC Employee Savings Plan plus (ii) the value of his vested Supplemental Core Contribution Account under the Schlage Lock Company LLC Supplemental Employee Savings Plan as of the date of the Employee’s Separation from Service.
Other Contributions for these amounts will be agreed separately by the ILC Management Committee and shall be over and above the Core Contribution.
A Member shall vest in his Employer Matching Contribution Account and his Employer Core Contribution Account after the completion of five (5) Years of Service, provided, however, that notwithstanding the foregoing, an employee will be fully vested in his Employer Matching Contribution Account and his Employer Core Contribution Account upon attaining his Normal Retirement Age.

More Definitions of Core Contribution

Core Contribution means a contribution by the Employer made to the Plan for the 2012, 2013 and 2014 Plan Years on behalf of a Participant pursuant to the applicable provisions of the Plan as in effect for such Plan Years.

Core Contribution means a Company nonelective contribution as described in Section 4.1(b) of this Appendix D.